The colposcopy market is projected to reach USD 740.1 Million by 2023 from USD 532.6 Million in 2018, at a CAGR of 6.8% from 2018 to 2023. Market growth can largely be attributed to factors such as the heavy burden of cervical cancer, the rapidly growing geriatric population, and technological advancements in colposcopy. Increasing awareness about gynecological diseases and the emerging Asian markets are expected to present a wide array of growth opportunities for players in the market.
On the basis of instrument type, the colposcopy market is categorized into optical and digital colposcopes. The optical colposcopes segment is expected to register the highest growth during the forecast period. Growth in this market is mainly due to the increasing use of optical colposcopes for cervical cancer screening.
Based on instrument portability, the market is segmented into portable, fixed, and handheld colposcopes. The portable colposcopes segment is estimated to register the highest growth during the forecast period. Growth in this segment can be attributed to its cost advantage, ease of installation and the high-quality images it reproduces for cervical cancer screening.
On the basis of end user, the market is segmented into hospitals, clinics, diagnostic centers, and other end users. Growth in this segment is mainly due to the growing number of cervical cancer patients and increasing cancer screening initiatives, as well as the rising installation of colposcopes in hospitals across the world.
The colposcopy market is geographically segmented into North America, Europe, Asia, and the Rest of the World (RoW). Asia is expected to register the highest growth due to the increasing burden of cervical cancer and growth in the demand for cervical cancer screening in the region.
Market leaders and emerging players are increasingly focusing on the market segments mentioned above to increase their revenues and are also looking to expand their reach to emerging economies
Colposcopy Market by Instrument Type (Optical, Digital), Portability (Fixed, Portable, Handheld), Application (Cervical Cancer Diagnosis, Physical Examination), End User (Hospitals, Clinics, Diagnostic Centres), and Region - Global Forecast to 2023
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